Vale S.A. - Depositary Receipt (Common Stock)
US ˙ NYSE ˙ US91912E1055

SecurityVALE / Vale S.A. - Depositary Receipt (Common Stock)
InstitutionMorgan Stanley
Latest Disclosed Ownership46,025,401 shares
Latest Disclosed Value $ 732,264,151
Morgan Stanley reports 266.35% increase in ownership of VALE / Vale S.A. - Depositary Receipt (Common Stock)

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 46,025,401 shares of Vale S.A. - Depositary Receipt (Common Stock) (US:VALE) valued at $732,264,130 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 12,563,174 shares of Vale S.A. - Depositary Receipt (Common Stock). This represents a change in shares of 266.35% during the quarter. The current value of the position is $739,167,940 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F VALE S A SPONSORED ADS 91912E105 46,025,401 33,462,227 266.35 732,264 347.33 0.0441
2026-05-27 2025-12-31 13F/A-1 VALE S A SPONSORED ADS 91912E105 12,563,174 -1,729,224 -12.10 163,698 5.47 0.0098
2026-02-13 2025-12-31 13F VALE S A SPONSORED ADS 91912E105 12,563,174 -1,729,224 163,698 0.0098
2026-05-27 2025-09-30 13F/A-1 VALE S A SPONSORED ADS 91912E105 14,292,398 -5,453,805 -27.62 155,215 -19.05 0.0094
2025-11-14 2025-09-30 13F VALE S A SPONSORED ADS 91912E105 14,292,398 -5,453,805 155,215 0.0094
2025-08-15 2025-06-30 13F VALE S A SPONSORED ADS 91912E105 19,746,203 170,905 0.87 191,736 -1.86 0.0125
2025-05-15 2025-03-31 13F VALE S A SPONSORED ADS 91912E105 19,575,298 -445,127 -2.22 195,361 10.01 0.0140
2025-05-15 2024-12-31 13F/A-1 VALE S A SPONSORED ADS 91912E105 20,020,425 -23,219,144 -53.70 177,581 -64.84 0.0124
2025-02-14 2024-12-31 13F VALE S A SPONSORED ADS 91912E105 20,020,425 -23,219,144 177,581 0.0124
2025-05-14 2024-09-30 13F/A-2 VALE S A SPONSORED ADS 91912E105 43,239,569 12,343,855 39.95 505,038 46.34 0.0366
2025-02-14 2024-09-30 13F/A-1 VALE S A SPONSORED ADS 91912E105 43,239,569 12,343,855 505,038 0.0366
2024-11-14 2024-09-30 13F VALE S A SPONSORED ADS 91912E105 43,239,569 12,343,855 505,038 0.0366
2025-05-14 2024-06-30 13F/A-2 VALE S A SPONSORED ADS 91912E105 30,895,714 12,813,966 70.87 345,105 56.57 0.0267
2024-10-17 2024-06-30 13F/A-1 VALE S A SPONSORED ADS 91912E105 30,895,714 12,813,966 345,105 0.0267
2024-08-14 2024-06-30 13F VALE S A SPONSORED ADS 91912E105 30,895,714 12,813,966 345,105 0.0267
2024-10-17 2024-03-31 13F/A-2 VALE S A SPONSORED ADS 91912E105 18,081,748 5,159,744 39.93 220,417 7.55 0.0177
2024-08-16 2024-03-31 13F/A-1 VALE S A SPONSORED ADS 91912E105 18,081,748 5,159,744 220,417 0.0177
2024-05-15 2024-03-31 13F VALE S A SPONSORED ADS 91912E105 18,081,748 5,159,744 220,417 0.0177
2024-08-16 2023-12-31 13F/A-1 VALE S A SPONSORED ADS 91912E105 12,922,004 2,773,565 27.33 204,943 50.71 0.0181
2024-02-13 2023-12-31 13F VALE S A SPONSORED ADS 91912E105 12,922,004 2,773,565 204,943 0.0181
2023-11-15 2023-09-30 13F VALE S A SPONSORED ADS 91912E105 10,148,439 -1,159,073 -10.25 135,989 -10.38 0.0138
2023-08-14 2023-06-30 13F VALE S A SPONSORED ADS 91912E105 11,307,512 -1,111,094 -8.95 151,747 -22.56 0.0150
2023-05-15 2023-03-31 13F VALE S A SPONSORED ADS 91912E105 12,418,606 -2,867,542 -18.76 195,966 -24.46 0.0210
2023-02-14 2022-12-31 13F VALE S A SPONSORED ADS 91912E105 15,286,148 -786,756 -4.89 259,406 21.17 0.0295
2022-11-14 2022-09-30 13F VALE S A SPONSORED ADS 91912E105 16,072,904 -1,504,049 -8.56 214,090 -16.75 0.0292
2022-10-27 2022-06-30 13F/A-1 VALE S A SPONSORED ADS 91912E105 17,576,953 4,535,737 34.78 257,151 -1.36 0.0334
2022-08-15 2022-06-30 13F VALE S A SPONSORED ADS 91912E105 17,576,953 4,535,737 257,151 0.0067
2022-10-27 2022-03-31 13F/A-1 VALE S A SPONSORED ADS 91912E105 13,041,216 2,462,489 23.28 260,694 75.77 0.0352
2022-05-13 2022-03-31 13F VALE S A SPONSORED ADS 91912E105 13,041,216 2,462,489 260,694 0.0352
2022-02-14 2021-12-31 13F VALE S A SPONSORED ADS 91912E105 10,578,727 1,865,236 21.41 148,313 22.02 0.0183
2021-11-15 2021-09-30 13F VALE S A SPONSORED ADS 91912E105 8,713,491 1,603,071 22.55 121,553 -25.05 0.0164
2021-08-23 2021-06-30 13F/A-1 VALE S A SPONSORED ADS 91912E105 7,110,420 -4,864,040 -40.62 162,189 -22.07 0.0214
2021-08-16 2021-06-30 13F VALE S A SPONSORED ADS 91912E105 7,110,420 -4,864,040 162,189 0.0044
2021-05-17 2021-03-31 13F VALE S A SPONSORED ADS 91912E105 11,974,460 -2,130,247 -15.10 208,116 -11.96 0.0306
2021-02-16 2020-12-31 13F VALE S A SPONSORED ADS 91912E105 14,104,707 -464,158 -3.19 236,395 53.37 0.0365
2020-11-13 2020-09-30 13F VALE S A SPONSORED ADS 91912E105 14,568,865 985,119 7.25 154,138 10.06 0.0298
2020-08-14 2020-06-30 13F VALE S A SPONSORED ADS 91912E105 13,583,746 5,378,188 65.54 140,047 105.88 0.0310
2020-05-26 2020-03-31 13F/A-1 VALE S A SPONSORED ADS 91912E105 8,205,558 -1,375,973 -14.36 68,023 -46.22 0.0185
2020-05-15 2020-03-31 13F VALE S A SPONSORED ADS 91912E105 8,205,558 -1,375,973 68,023 5,225.5844
2020-02-14 2019-12-31 13F VALE S A SPONSORED ADS 91912E105 9,581,531 5,422,278 130.37 126,476 164.42 0.0294
2019-11-14 2019-09-30 13F VALE S A SPONSORED ADS 91912E105 4,159,253 -9,627,274 -69.83 47,831 -74.19 0.0127
2019-08-14 2019-06-30 13F VALE S A SPONSORED ADS 91912E105 13,786,527 9,474,120 219.69 185,292 228.99 0.0493
2019-05-15 2019-03-31 13F VALE S A SPONSORED ADS 91912E105 4,312,407 -5,503,546 -56.07 56,321 -56.50 0.0159
2019-02-14 2018-12-31 13F VALE S A ADR 91912E105 9,815,953 5,972,926 155.42 129,473 127.02 0.0387
2019-04-23 2018-09-30 13F/A-2 VALE S A ADR 91912E105 3,843,027 -4,230,874 -52.40 57,031 -44.90 0.0143
2018-11-20 2018-09-30 13F/A-1 VALE S A ADR 91912E105 3,843,027 0 57,031 0.0143
2018-11-14 2018-09-30 13F VALE S A ADR 91912E105 3,843,027 -4,230,874 57,031
2019-04-23 2018-06-30 13F/A-1 VALE S A ADR 91912E105 8,073,901 -151,945 -1.85 103,508 -1.08 0.0280
2018-08-14 2018-06-30 13F VALE S A ADR 91912E105 8,073,901 -151,945 103,508
2019-04-23 2018-03-31 13F/A-1 VALE S A ADR 91912E105 8,225,846 3,536,521 75.42 104,633 82.45 0.0290
2018-05-14 2018-03-31 13F VALE S A ADR 91912E105 8,225,846 3,536,521 104,633
2019-04-23 2017-12-31 13F/A-1 VALE S A ADR 91912E105 4,689,325 -7,201,333 -60.56 57,350 -52.10 0.0157
2018-02-14 2017-12-31 13F VALE S A ADR 91912E105 4,689,325 -7,201,333 57,350
2017-11-14 2017-09-30 13F VALE S A ADR 91912E105 11,890,658 4,707,120 65.53 119,738 90.50 0.0359
2017-08-11 2017-06-30 13F VALE S A ADR 91912E105 7,183,538 2,110,473 41.60 62,856 30.42 0.0190
2017-05-22 2017-03-31 13F/A-1 VALE S A ADR 91912E105 5,073,065 697,968 15.95 48,195 44.56 0.0148
2017-05-12 2017-03-31 13F VALE S A ADR 91912E105 5,073,065 48,195
2017-02-22 2016-12-31 13F/A-1 VALE S A ADR 91912E105 4,375,097 -2,408,109 -35.50 33,339 -10.64 0.0109
2017-02-13 2016-12-31 13F VALE S A ADR 91912E105 4,375,097 33,339
2016-11-10 2016-09-30 13F VALE S A ADR 91912E105 6,783,206 -4,356,424 -39.11 37,307 -33.81 0.0127
2016-08-12 2016-06-30 13F VALE S A ADR 91912E105 11,139,630 -2,563,380 -18.71 56,367 -2.29 0.0204
2016-05-12 2016-03-31 13F VALE S A ADR 91912E105 13,703,010 8,961,333 188.99 57,689 269.82 0.0222
2016-02-09 2015-12-31 13F VALE S A ADR 91912E105 4,741,677 -8,791,466 -64.96 15,599 -72.56 0.0056
2016-02-08 2015-09-30 13F/A-1 VALE S A ADR 91912E105 13,533,143 674,916 5.25 56,838 -24.95 0.0210
2015-11-09 2015-09-30 13F VALE S A ADR 91912E105 13,533,143 56,838
2015-08-12 2015-06-30 13F VALE S A ADR 91912E105 12,858,227 1,143,701 9.76 75,735 14.42 0.0263
2015-05-14 2015-03-31 13F VALE S A ADR 91912E105 11,714,526 -5,240,117 -30.91 66,188 -52.28 0.0244
2015-02-13 2014-12-31 13F VALE S A ADR 91912E105 16,954,643 5,858,430 52.80 138,688 13.52 0.0507
2014-12-16 2014-09-30 13F/A-1 VALE S A ADR 91912E105 11,096,213 4,097,097 58.54 122,169 26.21 0.0470
2014-11-14 2014-09-30 13F VALE S A ADR 91912E105 11,096,213 122,169
2014-05-13 2014-03-31 13F VALE S A ADR 91912E105 6,999,116 870,748 14.21 96,798 3.57 0.0405
2014-02-13 2013-12-31 13F VALE S A ADR 91912E105 6,128,368 -3,681,234 -37.53 93,458 -38.97 0.0398
2013-11-13 2013-09-30 13F VALE S.A ADR ADRS 91912E105 9,809,602 928,863 10.46 153,127 31.12 0.0724
2013-08-08 2013-06-30 13F VALE S.A ADR ADRS 91912E105 8,880,739 8,880,739 116,782 0.0589
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.